Dec. 24 (Bloomberg) -- The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 20.06, or 0.7 percent, to 2,835.16 at the 3 p.m. close. The CSI 300 Index declined 0.8 percent to 3,162.96. Stock symbols are in parentheses after company names.
Automakers: SAIC Motor Corp. (600104 CH), China’s largest carmaker, dropped 2.3 percent to 15.63 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, slid 1.5 percent to 16.52 yuan.
The city of Beijing introduced measures including limiting the number of new passenger vehicles in the Chinese capital to ease congested roads.
Developers: China Vanke Co. (000002 CH), the nation’s biggest listed property developer, climbed 1.9 percent to 9.01 yuan. Gemdale Corp. (600383 CH), the fourth largest, advanced 4.9 percent to 6.58 yuan.
China’s property stocks may rebound 25 percent from the current level until the middle of January in the absence of further measures to rein in housing prices, Guotai Junan Securities Co. analysts led by Sun Jianping wrote in a report.
Fujian Haiyuan Automatic Equipments Co. (002529 CH) jumped 30 percent from its offer price to 23.39 yuan on the first day of trading in Shenzhen.
Gansu Jiu Steel Group Hongxing Iron & Steel Co. (600307 CH) rose 1.5 percent to 10.02 yuan after saying it plans to raise as much as 9.6 billion yuan ($1.45 billion) via the private placement of as many as 1.1 billion shares. The stock resumed trading today after being suspended over the past three days.
Xinjiang Goldwind Science & Technology Co., Ltd. (002202 CH), the country’s biggest listed maker of wind turbines, slid 4.3 percent to 22.30 yuan after saying the lock-up period of its A-shares will expire on Dec. 25.
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